The crypto industry has spent approximately $176 million on this cycle's U.S. midterm elections, participating in over 100 races to build a bipartisan congressional alliance that can advance its interests beyond Trump's tenure, according to Reuters.
Fairshake, the sector's largest super PAC, has led the strategy with roughly $150.8 million spent through October 20, while other crypto groups contributed about $25 million. Coinbase, Ripple, and Andreessen Horowitz are among the top funders. Of the 58 candidates Fairshake backed in primaries or special elections this year, 53 won and will appear on the November 3 ballot. The group supported only Republican Senate candidates after Democrats blocked the Clarity Act, reflecting a broader approach of backing front-runners rather than merely seeking allies.
Crypto Industry Spends $176M on U.S. Midterm Elections to Build Bipartisan Congressional Alliance
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